Can OM Break $7.50 as Whales Invest $93M in 7-days ?

Mantra (OM) price stabilized at the $6 mark on Tuesday, defying crypto market volatility to book 70% gains over the last 17 days. WIth whales piling on bullish pressure, can OM advance above $7.50 in the days ahead?

Mantra (OM) Breaches $6 Resistance as Traders Lean Toward RWA Projects Amid Market Turbulence

Mantra (OM) stabilized at the $6 mark on Tuesday, defying crypto market volatility to book 70% gains over the last 17 days. Market reports suggest the OM price rally is driven by negative sentiment from macroeconomic volatility, as traders seek shelter in tokenized real-world assets (RWAs) like bonds and treasury-backed tokens.

The TradingView chart above shows z surging from $3.20 to stabilize at $6 at the time of writing on February 11. This 70% gain ranks Mantra among the top-performing altcoins, currently in the top three crypto assets by market performance, according to data from CoinGecko.

Top 10 Whale Wallets Acquire 15.6 Million OM Coins in 7 Days

When a mid-range altcoin like OM outperforms Bitcoin and Ethereum, it often signals an active internal bullish catalyst. On-chain data confirms this, showing significant whale accumulation in recent weeks.

Santiment’s whale-tracking chart below highlights the balance held by the top 10 largest OM wallets, providing insights into daily buy/sell trends among institutional investors.

As of February 2, the top 10 largest whale wallets on the Mantra Chain network held a cumulative balance of 648.2 million OM. However, with the escalation of the US-China trade war, institutional investors significantly increased their holdings. By February 11, these whales had accumulated 663.8 million OM, adding 15.6 million OM worth approximately $93.6 million over the past seven days.

This accumulation indicates that institutional investors are turning to tokenized assets as a safe haven during crypto market volatility. When whales accumulate large amounts of tokens amid a market correction, it signals long-term confidence in the asset’s upside potential. Additionally, the $93 million whale purchases provide liquidity, allowing profit-takers to exit without disrupting OM’s bullish momentum.

With institutional accumulation supporting price stability, OM could extend its rally if buying pressure persists in the coming trading sessions.

Mantra (OM) Price Forecast: OM Could Top $7.50 If This Happens

Mantra price forecast chart remains bullish, with OM currently consolidating around $6 after a 70% rally in 17 days. The Bollinger Bands indicator shows OM trading near the upper band, indicating strong bullish momentum. The MACD histogram remains positive, reinforcing sustained buying pressure. The recent breakout from the mid-January consolidation range, accompanied by expanding Bollinger Bands, suggests increasing volatility, often a precursor to extended price movements.

If OM maintains support above the $5.22 middle Bollinger Band, bulls could push for another leg up toward the $6.85 resistance, aligning with the upper Bollinger Band. A successful breakout above this level could see OM test the $7.50 mark in the coming days. However, failure to sustain momentum could lead to a retracement toward $5.22, with a steeper decline to $4.35 if selling pressure intensifies.

While the MACD histogram shows a slight weakening in bullish momentum, the overall market structure remains favorable for buyers unless a decisive breakdown occurs.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.